The European Union has unveiled a banking crisis plan with a multibillion-euro fund to prevent future bank collapses. But Germany worries that a centralized authority in Brussels could cost it a lot of money.
Catalans have started withdrawing 150 or 160 euros ($188) from banks that have moved their headquarters. The action is in reference to Article 155 of the Spanish constitution which allows for taking control of Catalonia.
German Finance Minister Wolfgang Schäuble, a seasoned stickler, is bidding farewell after eight years. Though anyone in the EU looking forward to a future of more debt may be cheering too soon, writes Bernd Riegert.
Banco Sabadell has decided to move its legal headquarters out of Catalonia as separatists prepare to declare the region independent from Spain. A similar move is being weighed by Catalonia's biggest lender, CaixaBank.
The single currency has snapped a two-day rising streak and edged lower after German Chancellor Angela Merkel won a fourth term but faces tough coalition choices, with markets sensing an increasing risk for Europe.
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